Waukegan Park District

The District’s Financial Position

Taken as a whole, the District’s financial position is stable. This year the District saw an increase of 4.74% in Equalized Assessed Valuation (EAV). The District maintains solid financial reserves and prudent financial management and planning.

Contributing factors to our favorable financial position:

The commitment of the Board of Commissioners and Staff to evaluate, plan and implement programs, services and capital projects that meet the District’s Vision and Mission Statements.
User fees are an integral part of the District’s revenue stream. Various fees, primarily from the Recreation Fund, provide approximately 7.45% of the District’s revenue.
The FY2024-25 Budget includes drawdowns of fund balances in Recreation and Master Plan Capital Projects. These drawdowns are either planned or due to carryover projects.

2024-2025 Financial Rates & Charts

Revenue Charts Expenditure Charts Real Estate Tax Tax Rates

Tax Levies

Appropriation Ordinance

According to law, the Waukegan Park District must adopt an annual budget and appropriations ordinance. A public hearing must be held and publicized at least 30 days in advance.

Year	Primary	Supplemental
2023-2024
2022-2023
2021-2022
2020-2021
2019-2020
2018-2019
2017-2018

Compensation Reporting

The Waukegan Park District Board of Commissioners approved the Fiscal Year 2024-25 budget on April 9, 2024. In accordance with Public Act 97-0609, Section 7.3 compensation reporting requirements, a physical copy of that report is now available at the Administrative Center at 1324 Golf Rd., Waukegan, IL 60087.

Among the law’s requirements are the following:

All IMRF employers must prepare, within 6 days of the approval of the budget, the total compensation package for each employee having a total compensation package that exceeds $75,000 per year; and
Any IMRF employer that approves an employee’s total compensation package equal to or in excess of $150,000 per year must post on its website, at least 6 days before approval, the total compensation for that employee.

Bond Ratings

Bond ratings are grades given to bonds that indicate their credit quality. Private independent rating services such as Standard & Poor’s and Moody’s provide evaluations of a bond issuer’s financial strength, or its ability to pay a bond’s principal and interest in a timely fashion. The Waukegan Park District maintains a high bond rating according to both rating services.

Year	Firm	Report
2022	Standard & Poor’s Rating
2017	Standard & Poor’s Rating
2015	Moody’s Rating
2015	Standard & Poor’s Rating

IMRF Employer Cost & Participant Information

Vendor Information Reporting

In 2021, the State of Illinois enacted Public Act 102-0265 – Property Tax – Vendor Report. This law requires that any taxing district with a property tax levy of more than $5,000,000 must make a good faith effort to collect and electronically publish data as to whether vendors and subcontractors doing business with the taxing district are minority, women, or veteran-owned businesses. The Waukegan Park District is included in this requirement.

Vendor Information Report

Capital Projects

2024-2025 Three Year Capital Improvement Plan

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Financial Information

The District’s Financial Position

Contributing factors to our favorable financial position:

Park Happenings Weekly E-Newsletter

Awards & Accreditations

Awards & Accreditations

Download The WPD App

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Summer 2024

Financial Information

The District’s Financial Position

Contributing factors to our favorable financial position:

Park Happenings Weekly E-Newsletter

Awards & Accreditations

Awards & Accreditations

Download The WPD App